The Global Flexible Electronics Market is majorly driven by the advancement in technology of electronic devices, according to a Research Nester report “Global Flexible Electronics Market Outlook 2024”. The market is segmented into components type. Among this segment, display is expected to showcase a significant growth in near future on account of growing adoption of energy efficient and durable flexible electronic devices in various corporate and healthcare sectors.
The market is expected to reach around USD 17.2 Billion by 2024 and the market is expected to flourish at a CAGR of 19.7 % over the forecast period 2017-2024.
North America region is expected to account the largest share in terms of revenue in near future on the back of the introduction of advanced low cost flexible electronic devices such as smart watches, eBooks, smart glasses and rising adoption of energy efficient consumer goods.
Asia-Pacific region is expected to be the second largest share contributor in terms of revenue across the globe followed by Europe region over the forecast period i.e. 2017-2024 owing to the presence of emerging nations and rising personal disposable income across the regions.
Rise in technological advancements, increasing adoption of advanced and energy efficient electronic devices, rising popularity of flexible electronics, availability of numerous flexible electronics according to the requirements of users and enhancement in user experience are some of the factors which are expected to pave the market of flexible electronics in near future.
Growing demand in various sectors: Mounting
Factors such as rapid growth in urbanization in growing economies, rise in technological advancements and emergence of automotive and healthcare sector across the globe are adopting high-end display and lightening technology in order to save energy and update with new technology flexible electronic devices are likely to bolster the demand for flexible electronics over the forecast period i.e. 2017-2024.
Although, the presence of stringent regulations regarding the manufacturing of flexible electronics, lack of awareness in slowing economies and the high cost of flexible electronics are likely to hinder the growth of the market over the forecast period i.e. 2017-2024.
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